Fraud of all kinds is becoming a huge problem. The incidence of fraud is growing each year. Since 1999, fraud complaints due to online auctions alone have risen from about 10,000 per year to over 50,000 per year. (FTC 2002 figures).
According to an NBC News report on (4/30/03), over 50,000 people complained about being the victims of fraud on auction sites alone to the Federal Trade Commission (FTC) during 2002. The FTC estimated that over 34 Million dollars was stolen by scam artists on auction sites alone during 2002. The largest number of fraudulent actions were Identity Thefts, numbering over 160,000 in 2002. (FTC figure)
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FRAUD, CRIME, AND SCAM PREVENTION NETWORK
Exposing, Educating, & Preventing Fraud, Scams And Deceptions
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